State Street Corp Decreases Position in OUTFRONT Media Inc. (NYSE:OUT)

State Street Corp decreased its position in OUTFRONT Media Inc. (NYSE:OUT) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,665,303 shares of the financial services provider’s stock after selling 17,256 shares during the period. State Street Corp’s holdings in OUTFRONT Media were worth $104,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in shares of OUTFRONT Media by 13.6% in the third quarter. FMR LLC now owns 6,711,791 shares of the financial services provider’s stock valued at $123,363,000 after buying an additional 803,292 shares during the period. DigitalBridge Group Inc. raised its stake in OUTFRONT Media by 11.7% in the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after acquiring an additional 327,125 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in OUTFRONT Media by 10.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider’s stock valued at $30,567,000 after purchasing an additional 210,208 shares during the last quarter. Land & Buildings Investment Management LLC bought a new position in OUTFRONT Media during the second quarter worth about $22,724,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of OUTFRONT Media by 2.7% in the third quarter. ZWJ Investment Counsel Inc. now owns 1,446,420 shares of the financial services provider’s stock worth $26,585,000 after purchasing an additional 38,327 shares in the last quarter.

Wall Street Analyst Weigh In

OUT has been the subject of several analyst reports. Wells Fargo & Company began coverage on shares of OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective for the company. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Finally, Barrington Research restated an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.25.

OUTFRONT Media Trading Up 0.1 %

Shares of OUT stock opened at $18.82 on Monday. OUTFRONT Media Inc. has a 52-week low of $12.27 and a 52-week high of $19.50. The business’s fifty day moving average is $18.62 and its 200 day moving average is $16.72. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $3.12 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.96.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.20). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The business had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 15th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s payout ratio is presently 87.59%.

OUTFRONT Media Company Profile

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.